RUNE
RUNE Pumps 18% as THORChain deactivates non-native tokens
Cross-chain exchange and proof-of-bond network THORChain has finally activated the killswitch that will progressively wind down support of the BEP-2 and ERC-20-based variants of the RUNE token. BNB.RUNE, and ETH.RUNE, also known as IOU Tokens, are being swapped out for the upgraded and completely native RUNE token after THORChain’s long-awaited mainnet late last month. Moving forward, these tokens will progressively lose their value over the next 12 months as the project aims to foster adoption of its fully unified variant of RUNE, enabling stronger asset interoperability. Users who hold their IOU Tokens on centralized changes will have their tokens automatically upgraded to the new native RUNE. Those who keep their tokens in private wallets must create a new wallet supported by THOR...
THORChain token price up 16% following mainnet launch
The price of THORChain’s token RUNE is up 16% since the project announced the official launch of its mainnet on June 22. The team announced the mainnet launch on Wednesday, alongside the rollout of a “Rune in a Million Campaign” on Binance that contains a total of $1 million worth of RUNE rewards for users of the exchange. The announcement has been followed by a 16% bump for RUNE to $2.18 at the time of writing, and the price is up 31.6% over the past seven days. The surge has provided some much-needed relief for RUNE, though the price is still down 31% from $3.21 at the start of June. THORChain is a cross-chain exchange and proof-of-bond network that enables users to swap assets by liquidity pools across various networks such as Binance Smart Chain, Ethereum, Dogecoin and Bitcoin. The exc...
THORChain quietly outperforms crypto market in Q1 — Can RUNE price break $10 next?
THORChain (RUNE) could continue its upward momentum in the coming weeks even as it treads inside a classic bearish reversal structure. RUNE’s price has rebounded strongly by over 165% four weeks after testing its multi-month horizontal level support near $3.15. What’s more, its upside retracement has opened up possibilities about an extended bull run toward $11.50, about 45% above the current price level near $7.89, as shown in the chart below. RUNE/USD weekly price chart featuring descending triangle setup. Source: TradingView The $11.50-level coincides with RUNE’s multi-month falling trendline resistance, forming a descending triangle, a bearish setup, in conjunction with the lower horizontal support. That could have RUNE’s price correct again to $3.15 after reach...
Bitcoin’s got 3 strikes, but investors remain calm despite price drop
After Bitcoin (BTC) faced its third consecutive rejection, investors became more confident in adding altcoin positions. For the leading cryptocurrency, the path to $50,000 appears more challenging than previously expected. According to Euronews Next, on March 14, the European Union rejected a proposed rule that could have banned the energy-intensive proof-of-work (PoW) mining algorithm used by Bitcoin and other cryptocurrencies. Several EU parliamentarians have been pushing to ban PoW mining over energy concerns. BTC/USD price at FTX. Source: TradingView In terms of performance, the aggregate market capitalization of all cryptos was relatively flat over the past seven days, registering a modest 0.4% gain to $1.77 trillion. However, the apparent lack of performance in the overall market doe...
THORChain spikes by 34% after activating synthetic assets
The price of the native asset for cross-chain decentralized exchange THORChain (RUNE) has spiked by 34% in a day following the activating of synthetic assets on the network. At the time of writing the price had settled back to a 21% gain over the past 24 hours to sit at $5.27.. Crypto synthetics or synths are derivative tokens of other digital assets that are pegged to the value of the underlying collateralized asset such as Bitcoin (BTC) or Ether (ETH). In THORChain’s variation, the project has opted to back its synths with 50% of the underlying asset and 50% in RUNE. The activation went live earlier today and synthetics such as sBTC and sETH are now able to be traded on the network. THORSwap Finance highlighted the advantages of the synthetic assets via a March 10 blog post, noting that ...
